Pareto raises price target on six salmon shares

The news service TDN Direkt reports that, according to a sector report issued Thursday morning, the investment bank Pareto Securities is raising its price targets on a number of shares.

Bakkafrost to NOK 435, previously NOK 400.

Grieg Seafood to NOK 110, previously NOK 105.

Lerøy Seafood Group to NOK 70, previously NOK 66.

Marine Harvest to NOK 190, previously NOK 180.

Norwegian Royal Salmon to NOK 200, previously NOK 195.

SalMar to NOK 345, previously NOK 320.

The adjusting upward of the price targets was prompted by the perceived outlook for continued revenue growth in 2019 and 2020.

Pareto has changed one recommendation, where Austevoll Seafood is downgraded to hold from buy, while the share’s price target has been adjusted up to NOK 120 kper share, from NOK 110.

At the same time, Nordea Markets has raised its price target on Marine Harvest to NOK 185 previously NOK 180, and is maintaining its recommendation to buy.

“We consider Marine Harvest to be favourably positioned to make the most of a longer period with high prices, which can result in worthwhile margins and dividends in the years to come,” Nordea Markets wrote in its update, according to TDN Direkt.